Assembly Bill No. 43

Assembly Bill No. 43-Committee on Government Affairs

January 23, 1997
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Referred to Committee on Government Affairs

SUMMARY--Creates trust fund for extraordinary maintenance, repair or improvement of capital projects of state. (BDR 31-19)

FISCAL NOTE: Effect on Local Government: No.

Effect on the State or on Industrial Insurance: Yes.

EXPLANATION - Matter in italics is new; matter in brackets [ ] is material to be omitted.

AN ACT relating to state financial administration; creating the trust fund for the extraordinary maintenance, repair or improvement of capital projects of the state; and providing other matters properly relating thereto.

THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:

Section 1. Chapter 353 of NRS is hereby amended by adding thereto a new section to read as follows:
1. There is hereby created a trust fund for the extraordinary maintenance, repair or improvement of capital projects of the state.
2. The state controller shall transfer one-half of 1 percent of the total proceeds collected from the bonds sold for each capital project of the state, except proceeds collected from the bonds sold for a capital project for the construction of public roads and highways, for deposit in a separate account in the trust fund for the extraordinary maintenance, repair or improvement of capital projects of the state. Money in this fund and any other money of the state may be used to carry out the provisions of this subsection.
3. The state controller shall calculate and reserve any amount that is required for rebate payments to the Federal Government pursuant to 26 U.S.C. § 148, as amended. Any interest and income earned on money in an account in the trust fund in excess of the amount which is required for rebate payments to the Federal Government pursuant to 26 U.S.C. § 148, as amended, or which is otherwise required to be applied in specific manner by the Internal Revenue Code of 1986, as amended, must be credited to that account.
4. The money in each account in the trust fund may be used only for the extraordinary maintenance, repair or improvement of the capital project for which the account was created or for a facility that replaces that capital project. The money in each account in the trust fund at the end of the fiscal year must not revert to any other account or be a surplus for any purpose other than the purpose specified in this subsection.
5. Except as otherwise provided in this subsection, if a capital project will be used primarily by:
(a) The legislative department of state government, the director of the legislative counsel bureau shall administer the account in the trust fund created for that capital project;
(b) The executive department of state government, the chief of the buildings and grounds division of the department of administration shall administer the account in the trust fund created for that capital project; or
(c) The judicial department of state government, the court administrator shall administer the account in the trust fund created for that capital project.
At the request of the director of the legislative counsel bureau or the court administrator, the chief of the buildings and grounds division shall administer any account in the trust fund required to be administered by the director of the legislative counsel bureau or the court administrator, whichever is applicable, pursuant to this subsection. The chief may charge the account he administers pursuant to this subsection for the expenses of that administration.
6. For each fiscal year, each person who is required to administer an account in the trust fund created pursuant to subsection 1 shall prepare and maintain a record of financial information relating to that account that includes:
(a) Detailed information concerning each expenditure of money from the account; and
(b) Any planned accumulation of the money in the account.
The person required to administer an account shall provide a copy of the record of the account to the legislative auditor not later than 30 days after the state controller closes his records for the fiscal year.
7. As used in this section, "extraordinary maintenance, repair or improvement" means all expenses ordinarily incurred not more than once every 5 years to maintain the capital project in a fit operating condition.
Sec. 2. NRS 331.080 is hereby amended to read as follows:
331.080 1. The chief may expend appropriated money or money deposited in an account in the trust fund for the extraordinary maintenance, repair or improvement of capital projects of the state created pursuant to section 1 of this act to meet expenses for the care, maintenance and preservation of the buildings, grounds and their appurtenances identified in NRS 331.070, and for the repair of the furniture and fixtures therein.
2. He shall take proper precautions against damage thereto, or to the furniture, fixtures or other public property therein.